1st 2nd 3rd 4th 5th 6th 8th 10th 12th 18th 21st 22nd 23rd 25th 28th 29th Started in business with GHS38, 000.00 in the bank Bought goods on credit from Gilad GHS1455.00 Bought goods on credit from Swarty GHs472.00 Invested in fixed deposit by cheque GHs20, 000.00 Sold goods for cash GHS210.00 VCL returned goods to Gilad GHs82.00 Bought goods on credit from Swarty GHS370.00 Sold goods on credit to P. King GHs483.00 Sold goods for cash GHs305.00 Took GHs250.00 of the cash and paid it into the ba Bought a Water Dispenser by cheque GHs620.00 Sold goods on credit to Benz GHs394.00 P. King returned goods to VCL GHS160.00 Benz returned goods to VCL GHS18.00 VCL returned goods to Swarty GHs47.00 VCL paid Gilad by cheque GHs1373.00

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter4: Operating Activities: Sales And Cash Receipts
Section: Chapter Questions
Problem 3.7C
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Question Two
Record the follow transactions in the accounts of Verliby Company Ltd (VCL). Balance off the
accounts as at 31st March, 2021 and prepare a trail balance as at that date.
1st
2nd
3rd
4th
5th
6th
8th
10th
12th
18th
21st
22nd
23rd
25th
28th
29th
Started in business with GHS38, 000.00 in the bank
Bought goods on credit from Gilad GHS1455.00
Bought goods on credit from Swarty GHs472.00
Invested in fixed deposit by cheque GHs20, 000.00
Sold goods for cash GHS210.00
VCL returned goods to Gilad GHs82.00
Bought goods on credit from Swarty GHs370.00
Sold goods on credit to P. King GHs483.00
Sold goods for cash GHs305.00
Took GHs250.00 of the cash and paid it into the bank
Bought a Water Dispenser by cheque GHs620.00
Sold goods on credit to Benz GHs394.00
P. King returned goods to VCL GHs160.00
Benz returned goods to VCL GHs18.00
VCL returned goods to Swarty GHs47.00
VCL paid Gilad by cheque GHs1373.00
Transcribed Image Text:Question Two Record the follow transactions in the accounts of Verliby Company Ltd (VCL). Balance off the accounts as at 31st March, 2021 and prepare a trail balance as at that date. 1st 2nd 3rd 4th 5th 6th 8th 10th 12th 18th 21st 22nd 23rd 25th 28th 29th Started in business with GHS38, 000.00 in the bank Bought goods on credit from Gilad GHS1455.00 Bought goods on credit from Swarty GHs472.00 Invested in fixed deposit by cheque GHs20, 000.00 Sold goods for cash GHS210.00 VCL returned goods to Gilad GHs82.00 Bought goods on credit from Swarty GHs370.00 Sold goods on credit to P. King GHs483.00 Sold goods for cash GHs305.00 Took GHs250.00 of the cash and paid it into the bank Bought a Water Dispenser by cheque GHs620.00 Sold goods on credit to Benz GHs394.00 P. King returned goods to VCL GHs160.00 Benz returned goods to VCL GHs18.00 VCL returned goods to Swarty GHs47.00 VCL paid Gilad by cheque GHs1373.00
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